fbpx

Driven to the Market: Driven Brands sets potential stock price

Charlotte, North Carolina ⁠— Driven Brands, the owners of Carstar, Maaco, Meineke, Fix Auto USA and several other auto service companies, is looking to raise up to $760 million through an initial public offering (IPO)—which would value the company at about $3.4 billion (all figures in USD). 

Driven Brands plans to sell 38 million shares of its common stock, priced between $17 and $20 apiece, it said in a Thursday filing.

The company will list its shares on the Nasdaq under the ticker symbol ‘DRVN’.

Last year, private equity firm Roark Capital, which acquired Driven from Harvest Partners in 2015, was rumoured for sale at a price of $2 billion, according to a Bloomberg report.

Driven reported $2.4 billion in sales in the nine months ended Sep. 26, 2020, generating $616 million in revenue, according to the filing. 

Click here for more details on Driven Brands common stock offerings.

SHARE VIA:
Facebook
LinkedIn
Twitter
Email

Sign-up for the Collision Repair daily e-zine and never miss a story –  SUBSCRIBE NOW FOR FREE!

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Arslan Accuvision
PlayPlay
Arslan Accuvision
PlayPlay
previous arrow
next arrow

Recent Products

Recent Posts

Stay on top of the latest INDUSTRY news and trends by subscribing to our daily e-zine!

Our other sites

Our other sites

Days
Hours
Minutes
Seconds